Page 10 - KDC Presentation to Goldman Sachs_2.10.21_reduced

KDC BTS BUDGETS
DFW AREA SITE OPTIONS

2/11/2021
KDC BTS BUDGETS
DFW AREA SITE OPTIONS

DEVELOPMENT BUDGETS
PARK HERITAGE CITYLINE LEGACY WEST FIELDS FRISCO

$ Amount $ PSF $ Amount $ PSF $ Amount $ PSF $ Amount $ PSF
LAND $9,148,000 $18.30 $6,534,000 $13.07 $7,623,000 $15.25 $15,682,000 $31.36
HARD COST (CORE/SHELL/PARKING) $137,500,000 $275.00 $130,000,000 $260.00 $133,500,000 $267.00 $117,500,000 $235.00
TI ALLOWANCE ($100 PSF) $50,000,000 $100.00 $50,000,000 $100.00 $50,000,000 $100.00 $50,000,000 $100.00
FINANCING COSTS $14,957,000 $29.91 $14,160,000 $28.32 $14,515,000 $29.03 $14,490,000 $28.98
SOFT COSTS $57,496,500 $114.99 $55,417,500 $110.84 $56,358,000 $112.72 $54,893,500 $109.79
TOTAL PROJECT COSTS $269,101,500 $538.20 $256,111,500 $512.22 $261,996,000 $523.99 $252,565,500 $505.13

SQUARE FEET 500,000 500,000 500,000 500,000

ACRES 3.5 3.0 3.5 18.0
PARKING SPACES 2000 2000 2000 2000
PARKING STRUCTURE PODIUM PODIUM PODIUM SEPARATE

BASE RENT (NNN) - 15 YEAR LEASE
YEAR 1 RATE RANGE $37.50 to $39.50 NNN $35.50 to $37.50 NNN $35.50 to $38.50 NNN $33.50 to $36.50 NNN
THEREAFTER ANNUAL INCREASES OF… 2.0% 2.0% 2.0% 2.0%

NOTE: Tenant will have opportunity to invest in the project, as well as become a JV partner with KDC in the ownership of the selected development.